on and third party inventions have set up new mile stones for all the companies; be it some multinational giant or some small entrepreneurial venture.
The concepts that have been introduced with an “e” as prefix, like; e-commerce, e-trade, e-business, e-marketing and e-strategy, explain the literal terms of carrying out business via electronic channel, apparently. However, these terms explain some very broad concepts of internet cram which have proved to be revolutionary, immensely, after the internet boom of 90’s.
Open innovation and co-creation, intermediation and dis/re-intermediation, these concepts have changed the overall business scenario in every field and industry where internet and related agencies are stepping in. We have limited the research and discussion to just two aspects offered by e-organizations i.e. mass customization and personalization.
Collaborative Networked Organizations (CNOs), those which are also known as “third party vendors” and “fourth party logistics/vendors” and Virtual Customer Communities (VCCs) i.e. the company which exist online only, confirm a soaring prospective as drivers of value co-creation and open innovation. They have also been playing role in driving value specifically in collaborative innovation. By giving access to markets and their information, technologies and by sharing risk and amalgamating harmonizing competencies, e-technologies help organizations in conducting their business activities when electronically they are offered the facility of mass customization. This joint venture has proven that it can amplify malleability and suppleness of the companies’ VCS (Value creation systems) to support responding to an external situation like co-creation or collaborative opportunities (external driver).
Mass customization is all about sanctioning end clients. It’s about enabling consumers to create what they like, use it the way they want to and ultimately bringing out an idea. Now-a-days this